
Ethiopia’s wealthiest man Mohammed Al-Amoudi gains $111 million in 34 days
Al-Amoudi is worth $5.57 billion, making him the 470th richest man in the world.
Al-Amoudi is worth $5.57 billion, making him the 470th richest man in the world.
Al-Amoudi remains one of the wealthiest individuals in Africa.
Al-Amoudi is now ranked 443rd on the Bloomberg Billionaires Index.
Al-Amoudi derives the majority of his wealth from Preem, Sweden’s largest oil refiner, and Svenska.
Al-Amoudi derives the majority of his fortune from Preem and Svenska Petroleum Exploration.
The decline in his net worth brings his year-to-date wealth loss to $1.61 billion.
Al-Amoudi still remains Ethiopia’s richest man and one of Africa’s wealthiest businessmen.
His net worth fell in the first two weeks of August by $140 million.
The increase in his net worth follows a $1-billion wealth loss in the first half of 2022.
Al-Amoudi has lost his position as Africa’s sixth-richest man to Nigerian billionaire Mike Adenuga.
His net worth fell after Preem, Sweden’s largest oil refiner, reported a 31-percent drop in revenue.
The drop in the Ethiopian billionaire’s net worth can be attributed to a fall in the collective valuation of his industrial assets in Sweden, Saudi Arabia, and Ethiopia.
The mogul controls valuable assets in Sweden, Saudi Arabia and Ethiopia, and is Ethiopia’s richest man.
With a fortune of $6.45 billion, Al-Amoudi is one of Africa’s richest men and the wealthiest man in Ethiopia.
Al-Amoudi, who is the wealthiest man in Ethiopia, has a net worth of $6.71 billion.
Al-Amoudi’s $7.05-billion net worth makes him the richest man in Ethiopia, and one of the wealthiest men in Africa.